IFM Investors Pty Ltd Has $8.08 Million Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

IFM Investors Pty Ltd increased its holdings in shares of Synopsys, Inc. (NASDAQ:SNPSGet Rating) by 12.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,599 shares of the semiconductor company’s stock after purchasing an additional 2,940 shares during the period. IFM Investors Pty Ltd’s holdings in Synopsys were worth $8,078,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. San Luis Wealth Advisors LLC acquired a new stake in Synopsys during the first quarter worth approximately $29,000. Financial Management Professionals Inc. grew its stake in Synopsys by 178.1% in the second quarter. Financial Management Professionals Inc. now owns 89 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 57 shares during the period. MCF Advisors LLC acquired a new stake in Synopsys in the first quarter valued at approximately $40,000. Lansing Street Advisors acquired a new stake in Synopsys in the first quarter valued at approximately $43,000. Finally, Curi Wealth Management LLC grew its stake in Synopsys by 106.8% in the first quarter. Curi Wealth Management LLC now owns 151 shares of the semiconductor company’s stock valued at $50,000 after acquiring an additional 78 shares during the period. Institutional investors and hedge funds own 84.99% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on SNPS. Rosenblatt Securities raised their price objective on Synopsys from $390.00 to $405.00 and gave the company a “buy” rating in a research note on Thursday, August 18th. Needham & Company LLC raised their price objective on Synopsys from $380.00 to $420.00 and gave the company a “buy” rating in a research note on Thursday, August 18th. KeyCorp raised their price objective on Synopsys from $445.00 to $455.00 and gave the company an “overweight” rating in a research note on Thursday, August 18th. Stifel Nicolaus assumed coverage on Synopsys in a report on Wednesday, September 7th. They issued a “buy” rating and a $445.00 target price on the stock. Finally, Bank of America upgraded Synopsys from an “underperform” rating to a “neutral” rating and raised their target price for the company from $325.00 to $360.00 in a report on Wednesday, June 29th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Synopsys presently has a consensus rating of “Moderate Buy” and a consensus target price of $405.33.

Insider Buying and Selling

In other Synopsys news, Director Chrysostomos L. Nikias sold 400 shares of the firm’s stock in a transaction on Friday, August 19th. The stock was sold at an average price of $367.77, for a total value of $147,108.00. Following the completion of the sale, the director now directly owns 23,395 shares of the company’s stock, valued at $8,603,979.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Synopsys news, insider John F. Runkel, Jr. sold 3,464 shares of the firm’s stock in a transaction on Friday, August 19th. The stock was sold at an average price of $365.49, for a total value of $1,266,057.36. Following the completion of the sale, the insider now directly owns 22,623 shares of the company’s stock, valued at $8,268,480.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Chrysostomos L. Nikias sold 400 shares of the firm’s stock in a transaction on Friday, August 19th. The stock was sold at an average price of $367.77, for a total value of $147,108.00. Following the completion of the sale, the director now directly owns 23,395 shares of the company’s stock, valued at $8,603,979.15. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,789 shares of company stock worth $16,386,485. 1.20% of the stock is owned by company insiders.

Synopsys Trading Down 2.0 %

Shares of Synopsys stock opened at $306.97 on Friday. The business’s fifty day simple moving average is $347.58 and its 200 day simple moving average is $319.59. The firm has a market capitalization of $46.94 billion, a P/E ratio of 46.58, a price-to-earnings-growth ratio of 3.02 and a beta of 1.23. Synopsys, Inc. has a 12 month low of $255.02 and a 12 month high of $391.17.

Synopsys (NASDAQ:SNPSGet Rating) last issued its quarterly earnings results on Wednesday, August 17th. The semiconductor company reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.11. The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.21 billion. Synopsys had a return on equity of 18.29% and a net margin of 20.86%. Synopsys’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same period last year, the company posted $1.27 earnings per share. Analysts predict that Synopsys, Inc. will post 6.41 EPS for the current fiscal year.

Synopsys declared that its Board of Directors has authorized a stock buyback plan on Thursday, September 1st that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 2.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

About Synopsys

(Get Rating)

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. The company offers Fusion Design Platform that provides digital design implementation solutions; Verification Continuum Platform that provides virtual prototyping, static and formal verification, simulation, emulation, field programmable gate array (FPGA)-based prototyping, and debug solutions; and FPGA design products that are programmed to perform specific functions.

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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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